SpaceX spectrum trading leads to T-Mobile's share price drop, facing employee turnover

T-Mobile shares fell 5% to $249.83 on Monday as EchoStar sold the spectrum to SpaceX for $17 billion, giving SpaceX exclusive access to the U.S. S band, which can be used for direct to cellular services. In addition, due to mandatory use requirements for T-Life applications, representatives of T-Mobile resigned, citing excessive pressure and functional issues. CEO Mike Sievert's recent stock sale and the FCC's $92 million fine further exacerbates investors' concerns about operational and competitive challenges.